NIKL wave C possibly complete

Target Price: 30 - 32
Good entrance: 27 (break of 2-4 trendline)
Cut: 26.5
Risk: 1
Reward: 6 - 10

Pax weekly - 5 waves up

GERI small 3-waves to complete

wave c of the suspected (4) could be completing its pattern. This might still be the first leg of wave (4) but considering it's pattern regularities, I think it's enough. Let's just buy at low prices.

Facts:

• 50RSI & 50MA Support
• hit 61.8% of wave (3)
• touching trendline support

Recommendation:

• Test buy near 1.90 or below 1.90.

Philex's possible low

Philex might be finished with his first triangle leg after an x-wave.

Here are the facts:

• RSI on its extreme support.
• wave C = wave A.
• touched the channel support.

Recommendation:

• Watch
• Wait for a legit break of "wave c" channel
• Test buy for cure of the itch. :))

PX: Good scenario for trading

Philex Mining is trading sideways for almost a year now. I've been cost averaging since then. Happy anniversary to my shares! :)

It'll be frugal to buy PHP 23.00 and below. Cut price when 200MA and RSI Support breaks. This might probably be around PHP 22.50. A conservative TP is PHP 26.00.

The good points here are:

• Daily Chart, 50 MA is above 200MAthough 50MA is acting as resistance.
• EW, possible triangle ending pattern.
• Weekly price is supported by 50MA and RSI is nearing support.

 

With bearish divergences being persistent in indices world wide, will gold have it's comeback?

LR breathes for air

So have you sold your positions last friday? If you're asking me, I haven't. I held mine. And yes, there is that feeling of "I should have sold it". I didn't follow my system thus, I lost that 7-8% difference and gratification has delayed.

What I learned from this? Two things.. The solution I am formulating right now really WORKS and I must follow my system!

Here are the facts and my opinions.

1. LR's move last friday stopped at 100% fibo of a.
• Probably the trend may still continue until it  touch 50% or 61.8% of b' retracement.
2. LR didn't able to penetrate 70 RSI.
• Watch RSI's Support wall for a possible bounce. Considering it's distance and market's psychology. Php 8.00 is a good price for support.
3. RSI Daily > RSI Weekly.
• Last Friday's Action probably happened to neutralize the difference.
4. Price is reaching 50 MA in weekly chart. (See chart below)
• Another support but in weekly basis. 
• 50 RSI in weekly chart may act as a support as well.

Based on these, my actions will be:

• SELL positions IF the price reach Php 9.00 and the resistance will still exists then BUY back at established supports in retracements.
• HOLD my shares IF price will not manage to test resistances. BUY on future established supports. (Peso Cost Averaging)
• SELL ALL my shares IF no supports will be established.

Check! playing poker with LR.

       When the odds for winning a game in poker is unsure, I would check and wait for my opponents to take their action. The same case for me right now in LR. I need to see its next move before I proceed.

       My last play with LR was in the late of Feb 2012. The signal that caught me was the strong bounce and the gap up that followed the next day. Somehow I earned from that trade. It was this May that it got caught by my radar again. But this time, it will be a whole new different approach. My Elliot pattern reading has been fortified with Spyfrat's System. So here it goes..

LR has developed an RSI support at 37 RSI since then on, I started to buy positions whenever it touches and bounces from the support. My cut loss point was set on the break of that RSI line. See LR's daily chart below.

The bounce was really amazing! I wasn't even expecting that much at all. In Elliot Theory, this kind of bounce means something. I am not yet sure if the correction will still continue or it's just indicating the end of the triangle. This scenario made me quite cautious and indecisive.

Technically, It's about to reach the "taste-the-profit zone" (PHP 8.8 to PHP 9.0) and it will be a sell. It's RSI in weekly chart is hitting the resistance. The thing that makes me confuse is the market's response! It might just not stop on the zone and obviously, I'm being greedy.


So, the action based on the system. Refer to the chart below.

1. Taste-the-profit in the zone and wait for her action for the week if it still goes up.
2. If it goes down, we may test the channel and add if it holds at PHP 8.25 to PHP 8.10. However, the system would not encourage us to add more since it would just be approximately 10% to the Selling Zone.
3. If it goes down and breaks the trend line but finds support in the buy zone. Test the water because it may stay on the RSI SUPPORT.

We'll win the pot (conservatively PHP10) if LR will break its RSI and PRICE RESISTANCE. We might also  have opportunities to enter on new dips.
 

In loooong term, I am bullish with LR because it could be still on its 2nd corrective wave just after the double correction formation in 2010.

Don't focus on the forecast yet, wait for LR's action and just trade the market.

Happy Gaming! Share the Love!

Setting up for GERI's Last Leg Up

Well, I am not yet sure if this will be Global-Estate Resorts, Inc. (GERI)'s last leg but observing it's pattern from 2009, she is positioning for a Wave 5 according to Elliot Impulsive Pattern.

The target is PHP 2.8 to it previous all time high, (PHP 3.30ish?). This is measured 38.2% -to 61.8% from  Jan 2009 to Aug 2011.

Notice that the price levels at wave 4 of the previous impulsive pattern (extended wave 3) holds as a support for the current price and the bullish divergence that happened from mid-May to early-June this year.

It would be great to buy near 1.80 - 1.70. Cut at 1.65 if buying window broke.

Oh! also note that 50MA may act as a resistance.

Tasting Profits from MEG

Megaworld as of now had hit my "Taste the Profit" Signal. My developing system serves me right somehow.

I bought a lot of MEG, while it was consolidating last month, as it hits my buying box. I was confident because the RSI WALL serves well doing the support. I don't worry much if it breaks since I set my cutloss point at 1.85.

Why Taste the Profit? Because my system told me so. If we check its RSI in daily and weekly chart, It is noticeable that both are reaching their RSI resistances. Take note especially of the RSI WALL in the weekly chart as it may signify reversal. It suggest that the people is finding MEG expensive... technically speaking.

Our "Take profit" signal will be triggered when a bearish candle that strongly signifies a downward sentiment appears. There is no figure that is set for that signal because I myself is not yet sure if MEG is poising for a clear reversal.

We'll see the revelation tomorrow. I hope that the RSI resistance will break.

New update for trading system. What's up BHI?

It has been almost 30 trading days since our last analysis on BHI. It had become very unfortunate for us if we bought position and trade based on our forecast. The chart above is our latest stock chart reading for Boulevard Holdings. 

Lesson: We'll never predict her as she is like a woman having PMS (pre/post menstrual syndrome). We can only use her.  : )

I attended the 1st StockMarket Pilipinas event last May 19. (Click on the link to see the video) It was really great! The lectures were all very informative as it added stuffs to our trading system. I also enjoyed meeting and interacting with other SMP traders in real life. Special mention to m co-wavers scorpion888 and madsjmd. Ofcourse, the food was great and well served!

The event was comprised of speakers from PSE, Nieves, COLFinancial and "The Spyfrat of Spyfrat's Call". What I brought home for my trading system is the idea of peso cost averaging from COL and fortification of Spyfrat's trading system to tandem with Neo Elliot wave.

• COL's Peso Cost Averaging
• Trading The Spyfrat System

The time frame for each trade on my new system can be 1month-6months because I find it more profitable to trade in long term vs trading in short term as based in comparing the two. (Visit the link.)

Though there are situations that I am urged to trade in short term (daytrade to 3days). I find it very expensive as of now. I believe it requires years of experience.. and connections?

Nevertheless, Since I will trade for the next 20-50years. My current long term trading system will serve me profitable for the mean time.

Oh! For BHI, I would suggest to watch.

Based on Elliot wave pattern, it is suggesting an ending of a downtrend pattern. We may buy now (below .14 cutloss at .1370)  but there is still a risk. A risk in time and losing the opportunity to trade other running horses.

To hit a good timing, I suggest you to watch the RSI bounce for a possible bullish divergence. The price may hold at .14. If it bounce with considerable volume and breach the trendline at .1480, it confirms a new trend possibly to .1650. That is ~15% profit.

Would I trade BHI? Not yet.

BHI (04292012)

Boulevard Holdings Inc

PSE Technical Analysis

Daily Chart

Weekly Chart

• Forecast in NEWT, it may still not break out. The upside can only be up to 0.20-0.21. But,
• Watch RSI Walls in the daily chart or weekly chart. A break of it (specially in the weekly chart) will make happy pipols to 0.37-0.4. :D

Philex Mining (April 29, 2012)

Philexanity!
Philex Mining Corporation

20php revealed itself.

-> philex base speculation

Pattern Revelation

It made a c-failure flat. Next wave can be a X-wave because of its violent behavior. Is the X-wave done?
Let us see the charts.

Daily Chart

• Daily chart shows the 4th bump at the RSI Wall. Watch RSI at 58.9 for a possible support.
• C-wave failure suggests a formation of another corrective pattern.

Weekly Chart

• RSI at weekly chart shows a possible continuation since it hasn't reached the RSI Wall yet.
• Based from the "semi-indentical" pattern , Will history repeat itself?
• The WEDGE Theory suggest a lot of upside potential until the last week of July2012. (Php35?)

Bloomberry Trading

How I Ended Up Trading Bloom

 Bloomberry Resorts Corporation (BLOOM)

PSE Market

Buying Signals Detected

1. Candle and Volume on Apr 19

 

2. RSI support on weekly chart

How I Traded BLOOM

Trading BLOOMBERRY was full of action. After I sold my tested position (buy at the open) at 12.70. I bought back at 12.5ish.

  

 

Trades were added and sold. I even got whipsawed intraday. Ending up my week with the aeps holding the ff stocks.

 

PX: Possible base

Philex Mining's possible base:

An anti P18.00 support

Possible resistances:

P21.00
    - if the price hits the dashed line in lesser time than the formation of "wave c". Buy on retracements. It is a confirmation of reversal.

P22.00
    - 50% retracement of "wave C" of the triangle

P22.50
     - 61.8% retracement of "wave C" of the triangle


NOTE:
If base breaks, next support is at 18 pesos. A very very very good deal for Philex Mining.